
[Federal Register Volume 77, Number 159 (Thursday, August 16, 2012)]
[Notices]
[Page 49476]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-20099]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Rule 17f-2(a), SEC File No. 270-34, OMB Control No. 3235-0034.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget (``OMB'') a request for extension of the previously approved 
collection of information for Rule 17f-2(a) (17 CFR 240.17-2(a)), under 
the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 17f-2(a) (Fingerprinting Requirements for Securities 
Professionals) requires that securities professionals be fingerprinted. 
This requirement serves to identify security-risk personnel, to allow 
an employer to make fully informed employment decisions, and to deter 
possible wrongdoers from seeking employment in the securities industry. 
Partners, directors, officers, and employees of exchanges, brokers, 
dealers, transfer agents, and clearing agencies are included.
    The Commission staff estimates that approximately 10,000 
respondents will submit fingerprint cards each year. It also estimates 
that each respondent will submit 55 fingerprint cards per year. The 
staff estimates that the average number of hours necessary to comply 
with Rule 17f-2(a) by completing a fingerprint card is one-half hour. 
Thus, the total estimated annual burden is 275,000 hours for all 
respondents (550,000 times one-half hour). The average estimated 
internal labor cost of compliance per hour is approximately $50. 
Therefore, the total estimated annual internal labor cost of compliance 
for all respondents is $13,750,000 (275,000 times $50).
    Fingerprint cards submitted under Rule 17f-2(a) must be retained 
for a period of not less than three years after termination of the 
person's employment relationship with the organization. Submitting 
fingerprint cards for all securities personnel is mandatory to obtain 
the benefit of identifying security-risk personnel, allowing an 
employer to make fully informed employment decisions and deterring 
possible wrongdoers from seeking employment in the securities industry. 
Fingerprint cards submitted according to Rule 17f-2(a) will not be kept 
confidential.
    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid OMB control number. No 
person shall be subject to any penalty for failing to comply with a 
collection of information subject to the PRA that does not display a 
valid OMB control number.
    Background documentation for this information collection may be 
viewed at the following Web site: www.reginfo.gov. Comments should be 
directed to: (i) Desk Officer for the Securities and Exchange 
Commission, Office of Information and Regulatory Affairs, Office of 
Management and Budget, Room 10102, New Executive Office Building, 
Washington, DC 20503 or by sending an email to: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 
6432 General Green Way, Alexandria, Virginia 22312 or send an email to: 
PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: August 10, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-20099 Filed 8-15-12; 8:45 am]
BILLING CODE 8011-01-P


